Industrial customers will make up 62 percent of the $7 billion air infiltration market next year, according to the projections of market research firm The Mcilvaine Company.
The industrial market has been growing at a faster rate than the residential and commercial markets for air infiltration, the company reported in its Air Filtration and Purification World Markets research, which contains forecasts for 80 countries. One of the biggest industrial uses is power generation, which employs air filters to purify the air used for combustion in gas turbines.
“Due to the fact that some ambient air quality rules are so stringent that the exhaust has to be cleaner than the ambient air, the filter must not only protect the turbine but also take out enough particles to meet the stack gas particulate limits,” according to the company.
TechNavio analysts forecast that the global air filter market will grow at a compound annual growth rate (CAGR) of 4.78 percent from 2012-2016, with market growth attributed to the increased demand for energy-efficient air filters. Falling profit margins, however, could pose a threat to market growth.
One other growing application in the air filtration market is offshore oil and gas production, in which ambient air polluted by sea salt requires treatment before being used in equipment and controls, according to Mcilvaine.
The Mcilvaine company forecasts each application for the next five years and identifies opportunities in each on a global level.
Mcilvaine Company’s projections for 2014:
Air Filter Revenues (by Millions)
Other Industries (includes offshore oil and gas), 1,615
For more information, see Air Filtration and Purification World Markets data here.